2U (NASDAQ: TWOU) stock price drops 7.7% after analysts downgrade
2U, Inc. (NASDAQ:TWOU – Get Rating) stock price traded down 7.7% at midday on Friday after Piper Sandler lowered her price target on the stock from $9.00 to $8.00. Piper Sandler currently has an underweight rating on the stock. 2U traded as low as $9.56 and last traded at $9.56. 35,385 shares were traded at midday, down 98% from the average session volume of 2,170,431 shares. The stock had previously closed at $10.36.
A number of other research companies have also weighed in on TWOU recently. StockNews.com downgraded 2U shares from a “hold” rating to a “sell” rating in a research report on Saturday, July 2. Macquarie downgraded 2U’s shares from an “outperforming” rating to a “neutral” rating and set a price target of $11.00 for the company. in a research report on Monday. Barrington Research cut its price target on 2U shares from $25.00 to $16.00 in a Friday, May 6 research report. Needham & Company LLC cut its price target on 2U stock from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Friday. Finally, Morgan Stanley cut its price target on 2U stock from $22.00 to $17.00 and set an “equal weight” rating for the company in a Thursday, April 14 research report. Two research analysts gave the stock a sell rating, five gave the company a hold rating and six gave the company a buy rating. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.73.
Institutional investors weigh in on 2U
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Hedge funds have recently increased or reduced their holdings in the stock. ARK Investment Management LLC increased its position in 2U shares by 4.3% during the second quarter. ARK Investment Management LLC now owns 9,586,065 shares of the software maker worth $89,342,000 after acquiring 399,604 additional shares in the last quarter. Vanguard Group Inc. increased its position in 2U by 6.0% in Q1. Vanguard Group Inc. now owns 7,013,123 shares of the software maker worth $93,134,000 after buying 397,314 additional shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in 2U shares by 8.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,733,984 shares of the software maker valued at $76,147,000 after purchasing an additional 460,723 shares during the period. Nikko Asset Management Americas Inc. increased its holdings of 2U shares by 8.7% in the first quarter. Nikko Asset Management Americas Inc. now owns 5,733,984 shares of the software maker valued at $74,542,000 after buying an additional 460,723 shares in the last quarter. Finally, Invesco Ltd. increased its holdings of 2U shares by 11.1% in the first quarter. Invesco Ltd. now owns 1,769,009 shares of the software maker valued at $23,492,000 after buying an additional 177,100 shares in the last quarter.
2U Stock Performance
The company has a market capitalization of $751.45 million, a price-earnings ratio of -2.63 and a beta of 1.07. The company has a 50-day moving average price of $10.00 and a 200-day moving average price of $11.41. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt ratio of 1.42.
2U (NASDAQ:TWOU – Get Rating) last announced its results on Thursday, July 28. The software maker reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.06. 2U had a negative return on equity of 18.88% and a negative net margin of 28.45%. The company posted revenue of $241.46 million for the quarter, versus a consensus estimate of $254.26 million. In the same quarter of the previous year, the company achieved EPS of ($0.42). The company’s revenue for the quarter increased 1.8% on an annual basis. As a group, equity research analysts expect 2U, Inc. to post -1.71 earnings per share for the current year.
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2U, Inc operates as an education technology company in the United States and internationally. The Company operates through two segments, Degree Program and Alternative Degrees. The Degree Programs segment provides technology and services to non-profit colleges and universities to enable the online delivery of degree programs.
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